West Leederville,
Solis has recently completed a first pass geochemical programme at the
Executive Director,
'I am looking forward to commencing geophysical programmes in conjunction with a detailed mapping programme and applying for permits for the first pass drill programme. Our Peruvian assets have been significantly underexplored for too long. We now have a pipeline of very high-quality drill targets at Ilo Este and Chancho al Palo which are both being permitted for drilling. Cinto is now shaping up to be an equally significant high quality exploration target'.
Cinto Geology and mineralisation
Initial mapping programs have identified a zone within and bordering the Incapuquio Fault system that shows the presence of abundant copper oxides with artisanal workings.
The zone, approximately 200 x 100m in extent, consists of shales and tuffs with argillic and propylitic alteration showing considerable multi-directional faulting and brecciation with Cu oxides occurring in distinct patches. Several assays returned copper values greater than 1% and one high grade sample returned 7.14% Cu in a highly mineralised oxide zone. Some mineralised structures are at high angles to a bounding splay of the Incapuquio fault to the north. The nature of the occurrence (mineralisation breccias, abundant copper oxide mineralisation in places) suggests a proximal source. Geochemical results (associated Ag, Au, Mo and zinc) reflect a chemistry similar to the neighbouring Toquepala deposit1. The copper occurrence is being considered as a marker for a potential porphyry style mineralisation in the area.
The mapping crews are now mobilising to site to systematically cover the entire tenement package and identify areas of highest prospectivity. No geophysical data is available for the project and first-pass drone magnetometry will be carried out to target magnetite occurrences potentially related to porphyry alteration. The thin conglomerate cover in the south of the granted permits will be covered by drone magnetometry as field observations indicate the alteration continues southwards in this area. Follow-up Induced Polarisation (IP) geophysical studies will be carried out over areas of interest to evaluate primary drill targets.
Drill permitting at Ilo Este and
Both
This announcement is authorised by
Contact:
Executive Director
Tel: +61 8 6117 4795
Investor Relations
Morrow Sodali
Tel: +61 (8) 6160 4900
About
The Company owns a 100% interest or option to acquire 100% interest in the
In addition, Solis also holds a 100% interest in 41,400ha of combined licences and applications of highly prospective IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Competent Person Statement
The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr
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